Who says banks can’t be social?

Become a social bank, inside and out

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Read this report from Deloitte Canada to see how banks and customers can both profit from shared social value.

The social media revolution has already happened, transforming not only your customers’ daily behaviour but their expectations of you as their financial partner. In today’s social world, customers demand to be heard, understood and valued. If your bank wants to drive stronger, sustainable, profitable and mutually beneficial relationships in this new social reality, you must learn more about your customers – and listen when they speak.

Leading banks around the world are already responding to this trend by evolving into social banks, ones that embrace transparency and two-way interaction through social media to meet and exceed customer expectations. A social bank pursues mission-appropriate engagement with its customers, aligning its social efforts with its core business strategy and brand image. It builds the organizational capabilities needed to process customer insights and adopts change management strategies that let it react to this input in meaningful ways.

Canada is considered one of the world’s most socially connected countries, with over 50% of the population using social media tools. This presents a tremendous opportunity for Canadian banks to learn from leading organizations and industries as they push the envelope by transforming into social banks.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/na/about for a detailed description of DTTL and its member firms.